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GBP/JPY managed to touch the bullish target required to be achieved yesterday, at 157.00, recording the highest level at 157.10.
On the technical side, the current moves are witnessing a bearish bias resulting from hitting the resistance level 157.00. which constitutes a negative pressure factor, and the RSI is losing the bullish momentum, stable below the mid-line 50.
There may be a possibility to visit 156.10 next target, noting that the decline below it may put the price under negative pressure towards 155.60 areas as long as the price is stable below 157.00 and most importantly 157.10.
Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.
| S1: 156.10 | R1: 157.10 |
| S2: 155.60 | R2: 157.60 |
| S3: 155.05 | R3: 158.05 |
